Pressure is building for market participants to abandon Libor in favour of Risk Free Rates, but data suggest the transition isn’t proceeding as smoothly or as quickly as hoped. Is this the case and what needs to be done to get things moving quicker? Profit & Loss Dial-In Day Frankfurt featured an interview with the […]
Tag: European Central Bank
European Central Bank
The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank have announced a coordinated action to enhance the provision of liquidity via the standing US dollar liquidity swap line arrangements. These central banks have agreed to lower the pricing on the […]
Six central banks, along with the Bank for International Settlements (BIS), have created a group to assess the potential use cases for a central bank digital currency (CBDC) in their home jurisdictions. The central banks involved in the group are: the Bank of England (BoE), the Bank of Japan (BoJ), the European Central Bank (ECB), […]
The changing nature of foreign exchange markets, not least the day-to-day participation of the buy side, offer a good rationale for why buy side firms should sign a Statement of Commitment to the FX Global Code, speakers argued at the recent Profit & Loss Frankfurt conference. Ahead of the Global Foreign Exchange Committee meeting in Tokyo […]
The European Central Bank (ECB) is publicly endorsing the statement of Commitment set out in the FX Global Code of Conduct and is encouraging FX trading counterparties to do the same.
The FX Global Code is a set of global principles of good practice in foreign exchange markets, developed by central banks and market participants from 16 jurisdictions around the globe in order to promote a robust, fair, liquid, open and appropriately transparent market.
Today the ECB invited FX market participants to publicly commit to the principles set out in the Code by endorsing the statement of commitment annexed to the Code by the end of May 2018.